Re: Handling of bookstore payments

[krandall@world.std.com]

At 04:42 PM 1/19/99 -0800, Dave wrote:

>Karen, I have no objection to your position, but to be consistent then all
>the checks should go DIRECTLY to Bob.   Neil, you may want to change the
>mailing address for the bookstore in TAG.

Well, not necessarily.  The person receiving the checks does not have to be
a signer on AGA accounts.  You are not doing anything with them other than
passing them on.

But a check made out to an organization can only be deposited in an
organization account.  If a bank _did_ cash a check made out to an
organization for a party that was not an authorized signer on the account,
the bank could be held liable for those funds.  I ran the transit routing
dept of a bank for a number of years, and we trained counter personnel to
be very careful of these situations.

Karen